The syphilis treatment drugs market is estimated to acquire a large revenue by growing at a notable CAGR over the forecast period, i.e., 2021 – 2029. The growth of the market can be attributed to growing number of incidences of unprotected sex, anonymous sex and intercourse under the influence of drugs. According to the United States Centers for Disease Control and Prevention (CDC), in 2019, nearly 46% of sexually active high school students did not use a condom the last time they had sex. Half of the cases of STD are reported among people aged between 15-24 years. In addition to these, growing prevalence of syphilis in developing nations is also expected to drive market growth in the near future. Furthermore, as the prevalence of sexually transmitted diseases (STDs) is increasing, the sales of treatment drugs are also evaluated to witness a major surge in the coming years, which in turn is assessed to boost the market growth.
The market is segmented by disease type into primary, secondary, tertiary syphilis, and others, out of which, the primary and secondary syphilis segments are anticipated to hold the largest share in the syphilis treatment drugs market on account of the commonness of the disease in its earlier and transmissible stages. Additionally, majority of the cases of primary and secondary syphilis occur among homosexual men. Another report by the CDC states, in 2019, of the total syphilis cases, 38,992 were of primary and secondary (P&S) syphilis. Out of these, 56% of the total incidents accounted for all male cases. Rising openness towards same-sex is also estimated to offer opportunities to the growth of this market segment in the near future. Moreover, based on distribution channel, the segment for hospital pharmacies is evaluated to occupy the largest market share during the forecast period, which can be credited to the ease to receive prescribed medicines from the hospital facility itself. CLICK TO DOWNLOAD SAMPLE REPORT
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
On the basis of geographical analysis, the syphilis treatment drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in the North America region is estimated to grab the largest market share over the forecast period on the back of high awareness about the disease, favorable public health insurance plans and growing advancements in the healthcare sector. Europe is also assessed to acquire a large share in the market during the forecast period owing to the rising R&D activities to develop effective treatment for STDs in the region. However, the market in the Middle East & Africa is projected to witness noteworthy growth over the forecast period, which can be ascribed to increasing occurrence of syphilis in Africa, emergence of new point-of-care (POC) testing concepts and increasing number of public health labs to provide STD testing. According to the World Health Organization (WHO), Africa accounted for the highest prevalence of syphilis in the world.
The syphilis treatment drugs market is further classified on the basis of region as follows:
Our in-depth analysis of the syphilis treatment drugs market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing incidences of unprotected sex worldwide and growing occurrence of syphilis in developing nations are major growth drivers for the market.
The market is anticipated to attain a notable CAGR over the forecast period, i.e., 2021 – 2029.
Lack of trained laboratory personnel in under developed nations is estimated to hamper the market growth.
Middle East & Africa region will provide more business growth opportunities on the back of high prevalence of syphilis in Africa.
The major players in the market are GlaxoSmithKline plc, Johnson & Johnson Services, Inc., F. Hoffman-La Roche Ltd, Abbott Laboratories, PerkinElmer, Inc., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by disease type, distribution channel, and by region.
The primary and secondary segments are anticipated to hold largest market size in value and is estimated to grow at a robust CAGR over the forecast period and display significant growth opportunities.
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